Third Avenue Management LLC Trims Stock Position in Seaboard Corporation $SEB

Key Points

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Third Avenue Management LLC cut its holdings in shares of Seaboard Corporation (NYSEAMERICAN:SEB - Free Report) by 43.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,319 shares of the company's stock after selling 1,015 shares during the quarter. Third Avenue Management LLC owned 0.14% of Seaboard worth $3,558,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SEB. Geode Capital Management LLC raised its stake in shares of Seaboard by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,972 shares of the company's stock worth $9,654,000 after acquiring an additional 29 shares in the last quarter. Invesco Ltd. increased its stake in shares of Seaboard by 15.3% in the fourth quarter. Invesco Ltd. now owns 951 shares of the company's stock worth $2,311,000 after buying an additional 126 shares during the period. Sterling Capital Management LLC increased its stake in shares of Seaboard by 36.4% in the fourth quarter. Sterling Capital Management LLC now owns 15 shares of the company's stock worth $36,000 after buying an additional 4 shares during the period. Barclays PLC increased its stake in shares of Seaboard by 48.6% in the fourth quarter. Barclays PLC now owns 2,795 shares of the company's stock worth $6,791,000 after buying an additional 914 shares during the period. Finally, Mariner LLC increased its stake in shares of Seaboard by 155.0% in the fourth quarter. Mariner LLC now owns 357 shares of the company's stock worth $867,000 after buying an additional 217 shares during the period. 22.57% of the stock is owned by hedge funds and other institutional investors.

Seaboard Trading Up 2.1%

Shares of NYSEAMERICAN SEB traded up $75.84 during mid-day trading on Friday, hitting $3,685.92. The stock had a trading volume of 2,696 shares, compared to its average volume of 2,105. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.38 and a current ratio of 2.40. Seaboard Corporation has a 1 year low of $2,365.00 and a 1 year high of $3,723.00. The business has a 50 day moving average price of $3,152.11 and a two-hundred day moving average price of $2,797.25. The firm has a market cap of $3.54 billion, a P/E ratio of 25.72 and a beta of 0.19.

Seaboard declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Seaboard Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were paid a $2.25 dividend. This represents a dividend yield of 28.0%. The ex-dividend date of this dividend was Friday, August 8th. Seaboard's payout ratio is presently 9.93%.

Seaboard Profile

Seaboard Corporation, together with its subsidiaries, operates as an agricultural and ocean transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells pork products to further processors, food service operators, grocery stores, and distributors; hogs; and biodiesel.